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Economic Reforms, External Liberalization and Macroeconomic Performance in Vietnam

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  • Le, Huong
  • Ho, Manh-Toan

    (Thanh Tay University Hanoi)

Abstract

This paper examines the macro-economic performance of Vietnam through the six phases of Doi Moi reform and analyzes the impact of external liberalization on economic growth, aggregate demand, employment and income distribution. The decomposition of aggregate demand suggests that private investment was the most important determinant of Vietnamese economic growth during the period of 1994 – 2011, while government expenditure has become more significant since 2005, and the external sector together with government expenditure are the important driving factors of Vietnamese economic growth since 2012. The decomposition of overall labor productivity highlighted the fact that sectoral productivity growth of the service sector plays an important role in the improvement of overall labor productivity in Vietnam.

Suggested Citation

  • Le, Huong & Ho, Manh-Toan, 2019. "Economic Reforms, External Liberalization and Macroeconomic Performance in Vietnam," OSF Preprints ctj5z, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:ctj5z
    DOI: 10.31219/osf.io/ctj5z
    as

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    References listed on IDEAS

    as
    1. Bhatt, P.R., 2013. "Causal Relationship between Exports, FDI and Income: The case of Vietnam," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 13(1), pages 161-172.
    2. Quan-Hoang Vuong, 2014. "Vietnam’s political economy: a discussion on the 1986-2016 period," Working Papers CEB 14-010, ULB -- Universite Libre de Bruxelles.
    3. Janine Berg & Lance Taylor, 2000. "External Liberalization, Economic Performance, and Social Policy," SCEPA working paper series. 2000-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
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    Cited by:

    1. Le, Huong & Bui, Ly, 2022. "The Impacts of Trade Openness on Industrial Performance at Regional and Provincial Level in Vietnam," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 47(1), pages 85-107, March.

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